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U.S. and EU Discuss Transatlantic Economy

The two groups meet to bolster bilateral trade relationship and discuss new projects.

Nov 10, 2006

Officials from the U.S. and EU met to discuss economic challenges and future projects today. U.S. Commerce Secretary Carlos M. Gutierrez and Energy Secretary Samuel W. Bodman met with European Union Commission Vice President GÃ¼nter Verheugen and Finnish Minister for Trade and Industry Mauri Pekkarinen in the second informal U.S.-EU economic meeting.

Some of the hot topics of the discussions included intellectual property rights, regulatory cooperation, and energy security.

"The U.S. and EU economic relationship continues to be the largest and most successful bilateral trade and investment relationships in the world,bCrLf Gutierrez says. "However, we also recognize the need to continue to focus on the burdensome regulations that slow down economic growth, promote enforcement of intellectual property rights, and identify ways to collaborate on innovation efforts. Today we agreed to look at new projects in these areas, such as the automotive and healthcare sectors, to bring meaningful results for both economies.bCrLf

"Results-oriented policies in the areas of innovation - which includes protecting and enforcing our intellectual property rights - and regulation will reduce bureaucracy and regulatory barriers to trade and investment. It will make a real difference for our citizens and our businesses on both sides of the Atlantic," says Verheugen.

In addition to exploring projects in the automobile and health-related industries, the two parties discussed the Doha Round negotiations and the global energy market.